Russian pharma company with Indian investment to launch medicines

New line of pills and capsules to be launched at the Pharmasyntez factory in Irkutsk on September 7.

A Russian pharmaceutical company, backed by Indian
investors, will launch its third pill-and-capsule production line at the
Pharmasyntez factory in the Siberian city of Irkutsk on September 7.

The Ambassador of India to Russia Ajai Malhotra visited
the Pharmasyntez plant, as part of a trip to develop better relations between
India and Siberian regions. During his trip, Ambassador Malhotra met Sergey
Yeroschenko, Governor of the Irkutsk region. The Irkutsk Governor said that
India’s move to establish joint ventures in the Irkutsk Region, which
manufactures consumer goods, processed food and medicines, is an important step
for the development of mutually beneficial bilateral relations.

Pharmasyntez's profile

Pharmasyntez is Russia’s largest manufacturer of anti-TB medications. The company has three production sites producing about 50 types of medicines including pills, capsules, granules and infusion solutions. The annual turnover of Pharmasyntez is about US$85 million.

Pharmasyntez sources its pharmaceutical ingredients in
India to produce anti-tuberculosis medications. In addition, 80 percent of the
equipment for the third production site in Irkutsk was acquired from Indian companies.
Pharmasyntez has invested about 1 billion roubles in the construction and accessories
of the new production site in Irkutsk.

“The Republic of India is a traditional trade partner of
the Irkutsk region. The production of pharmaceuticals is one of the most
important areas of international cooperation,” said Ajai Malhotra. The
Ambassador also said that the countries should intensify their cooperation in
aircraft building, tourism and education.

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In December 2011, India signed a US$1.4 billion
intergovernmental agreement with Irkutsk Aviation Plant and bought 42 SU-30 MKI
fighters. Now the plant is being reequipped.

According to the Irkutsk Administration, trade between the
Irkutsk region and India totaled crossed US$150 million in the first half of
2012. “These numbers reflect the collaboration in the supply of aircraft and
components for the Indian Air Force, the supply of Indian computer technology,
electrical and radio equipment, and pharmaceuticals to the Irkutsk region. This
year, local companies also began shipping textile and print products to India”,
the Irkutsk Administration said in a press-release.